Wells Fargo & Company $WFC Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Wells Fargo by 18.9% in the second quarter, holding 386,414 shares now valued at approximately $30.97 million.
• Wells Fargo reported an EPS of $1.54 for the latest quarter, exceeding analysts' expectations, alongside revenue of $20.82 billion.
• The company announced a quarterly dividend increase to $0.45 per share, representing a 2.3% dividend yield.

Vanguard Personalized Indexing Management LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 18.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 386,414 shares of the financial services provider's stock after purchasing an additional 61,496 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Wells Fargo & Company were worth $30,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the last quarter. Strs Ohio acquired a new stake in Wells Fargo & Company in the 1st quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 34.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider's stock valued at $381,016,000 after purchasing an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Wells Fargo & Company by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider's stock valued at $353,668,000 after purchasing an additional 1,152,181 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.74 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average price of $80.63 and a 200 day moving average price of $76.53. The company has a market cap of $249.04 billion, a P/E ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company's payout ratio is presently 30.82%.

Analysts Set New Price Targets

Several research firms recently weighed in on WFC. Truist Financial lifted their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Weiss Ratings upgraded shares of Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research note on Wednesday. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $85.41.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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